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The Inside Job - Term Paper Example

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The Inside Job

The documentary is about the financial crisis experienced in 2007 and 2008 among other vital economical issues in the United States and on the globe in general. The 2007 global financial crisis was a result of poor loaning scheme to the real estate sector that led to the worst state of bankrupt ever recorded. The United States legislators, out of their own greed, ordered the banking institutions to provide unsecured loans, only for the real estate owners to become loan defaulters. The scheme affected the global economy causing the prices of basic necessities to rise by certain percentages. Ferguson uses the documentary to highlight some of the corrupt deals and changes in the banking industry that brought the global financial crisis among other economical limitations. This study analyzes the documentary, putting emphasis on the motive behind the entire casting. The documentary contains five parts which are in a sequential order as far as the cause and effects of the global financial crisis are concerned. All the five episodes make a summery of the causes and effects of the global financial crisis. This paragraph contains the main financial summery with regard to the late-2000 US financial crisis. It begins by highlighting the poor performance, then the collapse of some of the greatest banking institutions (Iceland) in the United States. Iceland collapsed the moment its main shareholders, Lehman Brothers and AIG, went bankrupt. The producer engages narration as one of the main styles to pass relevant information in the documentary. The documentary is ideal for general viewing, but it would make more sense to those with economical knowledge since some economical and financial jargon words are used to describe the causes and effects of the global financial crisis. The first episode begins as a history documentary where the audience is taken through the US and the global economical status from 1940 to 1980, during which the financial sector was regulated. The documentary creates a comparison platform, where the audience is made to recognize the difference between the current financial status and that of 20 years ago. It requires good financial analytical skills to note the difference, but the producer broke the entire idea into simpler details. He also tries to use the ordinary language and not financial technical jargon to describe his findings. One learns that the documentary is some sort of financial research findings, but in a simpler language. However, more emphasis is put on the blunders committed by the financial sectors. After 1980, there is no record of regulating the financial sector, and this helped various individuals to establish giant firms on the taxpayers’ money. The documentary records that an estimate of $ 124 billion of taxpayers’ money was channeled from the national treasury to start the giant companies. Various banks later ventured in internet banking scheme, where huge amounts were invested despite those firms being infeasible. The financial sector lost about $ 5 trillion on the failure of the internet companies. The sector introduced some derivatives that caused even more instability. Several financial studies were conducted, and derivatives regulation was considered one of the remedies to reverse the financial status. However, a good number of legislators supported the bill of Commodity Futures Modernization, which later became a bill and compromised derivative regulations. From the year 2000, the financial sector was dominated by five major companies, comprising Goldman Sachs, Morgan Stanley, Lehman Brothers, Merrill Lynch and Bear Stearns. The other team was made of two financial partners, Citigroup and JPMorgan Chase. AIG, MBIA, and AMBAC, which are insurance companies, ...Show more

Summary

The Inside Job is an American documentary directed by Charles Ferguson and produced by Charles Ferguson and Audrey Marrs.The documentary runs for 108 minutes and was released in 2010.Sony Pictures Classics was the company responsible for its distribution…
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